Hierarchy of effectsThis is a marketing model designed to demonstrate how a consumer transitions from being unaware of a brand, to forming attitudes and understanding of that brand, to ultimately becoming an end customer.There are many versions of this hierarchy of effects model found in textbooks, but let’s start with a very basic three-step model […]
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Hierarchy of effects model and share of minds and share of heartsThere are numerous hierarchy of effects models that are covered in marketing literature. Probably the most common one was developed in 1961 and is a six stage model usually included in a Philip Kotler marketing textbook. The following diagram is an expansion of the
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Quick Overview of the BCG MatrixFor those people familiar with the BCG matrix, you should recall that the horizontal axis measures relative market share.This is the more important of the two dimensions. A high or low relative market share makes the difference between a cash cow and a dog or a star and a question
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The Leaky Bucket Theory or Analogy?The leaky bucket theory is more of an analogy than a theory. It is used because it is a nice and simple way of understanding the concept of customer relationship management and how to increase customer lifetime value.The theory uses a bucket that has several holes in the base and
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Most marketing textbooks will show the products as having three distinct levels, namely the core benefit or need, the actual product itself, and the augmented product.Please note that there is a separate article on this website that discusses the three product level model.However, in some more advanced marketing textbooks, this model is expanded to include
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In marketing textbooks, consumer products are often shown classified into one of four classes – namely, convenience products, shopping products, specialty products, and unsought products. This is a very old marketing model that is still current and relevant today.There are several articles on this website discussing the specific marketing implications and marketing mix guidelines for
Quick marketing checklist for consumer products Find Out More...
One helpful way of thinking about a product as a marketer is to split the product into levels. By analyzing the product at different levels, a marketer can have a better understanding of the product’s competition, how the design meets the needs of the market, and how it can be supported and clearly differentiated in
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In marketing textbooks, when discussing the product mix, the consumer product classification system is usually discussed. Please note that there are several articles on this website relating to the consumer product classification system, such as how products are classified, examples of the different classes, and why this classification system is used.As you probably know, consumer
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In many marketing textbooks, when discussing the product mix, the consumer product classification system is often a model that is presented. Please note that there are several articles on this website relating to the consumer product classification system – please refer to Related Topics at the end of this article.As a quick recap, in the
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Many marketing textbooks present the consumer product classification system, which is a model that helps guide the development and design of the marketing mix. Please note that there are several articles on this website relating to the consumer product classification system – please refer to Related Topics at the end of this article.As a reminder,
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